“”The role of Human Resources has greatly changed over the last 30 years. Employees often worked for the same company their whole life and staff engagement was rarely considered. Today, attracting and retaining the top talent has become a top priority”. Written by ALLISON CARDONA

With 77 per cent of employees claiming they would work harder if they felt better recognised by their employer, rewarding and motivating staff remains crucial for competitive market advantage.

90 per cent of business leaders believe that an engagement strategy could positively impact their business, yet only 25 per cent of them actually have a programme in place.

According to recent research by Towers Watson, companies with noncash rewards and incentive programmes had revenues that were 6.6 per cent greater than those that did not.

Not only are individualised products necessary for motivating and retaining talent, when used correctly it can also an effective recruitment tool.

Neil Conway, professor of organisational behaviour and HR management at the Royal Holloway, University of London, says: ‘‘How the gift is framed and presented to employees is important.” Incentives and thank yous not only drive efficiency and success, but it also help to spread goodwill around the whole company. What’s more, they generate external positive word of mouth and ensures favourable sentiment and advocacy.

Incentives and thank yous not only drive efficiency and success, but it also help to spread goodwill around the whole company.”